The Post-Consumer Resin Market Development Partnership will gain commitments from consumer product companies in Vietnam to use recycled plastic (known as post-consumer resin) in their packaging materials and develop a plan for a local plastics recycling factory.
P4G has invested US $99,850 in this partnership.
The partnership developed an investment-ready model for building a state-of-the-art plastics recycling factory in Vietnam. When fully implemented, this partnership could result in US $15-20 million investment in Vietnam’s sustainable plastics economy, leading to less plastic ending up in oceans and landfills. By conducting a stakeholder mapping and market feasibility studies, the partnership identified design and technology requirements for the food-grade recycled polyethylene tetraphyte (rPET) resin factory.
Accelerated by Vietnam's Chamber of Commerce and Industry (VCCI), P4G's National Platform Co-Chair, the partnership plays a key role in achieving Vietnam's national priorities toward circularity and reducing plastic waste. Through the strategy and roadmap developed for Vietnam’s modern PCR recycling model, the partnership earned funding from German development finance institution DEG and the company Alba Swire in order to develop the mechanism for recycling collection in Vietnam This will eventually feed into the actualization of the proven model that will result in a PCR factory. The partnership will also continue to advocate for government support and social buy-in for plastics recycling.
Investing in Vietnam’s Sustainable Plastics Economy